HarborOne Bancorp Correlations

HONE Stock

USD 10.57 0.18 1.67%

The correlation of HarborOne Bancorp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

HarborOne Bancorp Correlation With Market

Very weak diversification

The correlation between HarborOne Bancorp and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HarborOne Bancorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HarborOne Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade HarborOne Stock refer to our How to Trade HarborOne Stock guide.

Moving together with HarborOne Stock

0.91	AX	Axos Financial	Pair Corr
0.86	BY	Byline Bancorp	Pair Corr
0.74	PB	Prosperity Bancshares	Pair Corr
0.85	RF	Regions Financial	Pair Corr
0.84	VBNK	VersaBank	Pair Corr
0.87	VBTX	Veritex Holdings	Pair Corr
0.88	EGBN	Eagle Bancorp	Pair Corr
0.71	WAFD	Washington Federal	Pair Corr
0.64	WASH	Washington Trust Bancorp	Pair Corr
0.85	EQBK	Equity Bancshares,	Pair Corr
0.68	WAFDP	Washington Federal	Pair Corr
0.64	TFINP	Triumph Financial	Pair Corr
0.91	EVBN	Evans Bancorp	Pair Corr
0.83	WMPN	William Penn Bancorp	Pair Corr

Moving against HarborOne Stock

0.76	VBFC	Village Bank	Pair Corr
0.7	DB	Deutsche Bank AG	Pair Corr
0.56	TECTP	Tectonic Financial	Pair Corr
0.39	EBMT	Eagle Bancorp Montana	Pair Corr
0.48	WSBCP	WesBanco	Pair Corr
0.42	KEY-PI	KeyCorp	Pair Corr
0.39	BANC-PF	Banc of California	Pair Corr

Related Correlations Analysis

	INDB	RMBI	CATC	BHLB	SMBC	IROQ	CBAN	OPOF	TCFC	FNWB
INDB		0.59	0.0	0.75	0.86	0.06	0.83	-0.18	0.0	0.62	INDB
RMBI	0.59		0.0	0.76	0.78	-0.31	0.46	-0.72	0.0	0.31	RMBI
CATC	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CATC
BHLB	0.75	0.76	0.0		0.89	-0.09	0.48	-0.63	0.0	0.56	BHLB
SMBC	0.86	0.78	0.0	0.89		-0.18	0.7	-0.45	0.0	0.51	SMBC
IROQ	0.06	-0.31	0.0	-0.09	-0.18		0.15	0.5	0.0	0.44	IROQ
CBAN	0.83	0.46	0.0	0.48	0.7	0.15		0.12	0.0	0.6	CBAN
OPOF	-0.18	-0.72	0.0	-0.63	-0.45	0.5	0.12		0.0	-0.03	OPOF
TCFC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TCFC
FNWB	0.62	0.31	0.0	0.56	0.51	0.44	0.6	-0.03	0.0		FNWB
	INDB	RMBI	CATC	BHLB	SMBC	IROQ	CBAN	OPOF	TCFC	FNWB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SMBC	+ 0.89	BHLB
SMBC	+ 0.86	INDB
CBAN	+ 0.83	INDB
SMBC	+ 0.78	RMBI
BHLB	+ 0.76	RMBI
BHLB	+ 0.75	INDB

High negative correlations

OPOF	- 0.72	RMBI
OPOF	- 0.63	BHLB
OPOF	- 0.45	SMBC
IROQ	- 0.31	RMBI
IROQ	- 0.18	SMBC
OPOF	- 0.18	INDB

Risk-Adjusted Indicators

There is a big difference between HarborOne Stock performing well and HarborOne Bancorp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze HarborOne Bancorp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
INDB	1.32	(0.17)	0.00	10.33	0.00	0.00	2.88	(3.27)	9.25
RMBI	1.43	(0.17)	0.00	(0.85)	0.00	0.00	2.62	(4.19)	9.31
CATC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BHLB	1.11	(0.15)	0.00	(0.22)	0.00	0.00	2.06	(2.49)	7.39
SMBC	1.30	(0.18)	0.00	(0.23)	0.00	0.00	2.05	(3.82)	6.67
IROQ	1.35	0.07	0.06	0.12	1.77	(1.54)	2.85	(3.40)	10.54
CBAN	1.20	(0.09)	0.00	0.32	0.00	0.00	2.59	(2.20)	10.65
OPOF	1.12	0.30	0.23	(1.12)	1.20	(1.32)	3.51	(1.51)	10.73
TCFC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNWB	1.20	0.00	0.00	(0.07)	0.00	0.00	2.68	(2.76)	9.99

HarborOne Bancorp Corporate Executives

Elected by the shareholders, the HarborOne Bancorp's board of directors comprises two types of representatives: HarborOne Bancorp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of HarborOne. The board's role is to monitor HarborOne Bancorp's management team and ensure that shareholders' interests are well served. HarborOne Bancorp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, HarborOne Bancorp's outside directors are responsible for providing unbiased perspectives on the board's policies.

Linda Simmons

Ex CFO

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